$CAKE — The recovery still needs to break resistance
CAKE Futures is at 2.2431 USDT, down 2.005% over 24 hours. The latest 1H candle closed higher, rising from 2.2338 to 2.2455 after the previous candle closed at 2.2337, indicating that the short-term recovery is holding.
🟢 The bias favors upside if a 1H candle closes above 2.2479. The next levels to watch are 2.2540 and then 2.2754, based on the highs of closed candles. This view is invalidated if a 1H candle closes below 2.2243. Wait for the candle close to confirm; avoid drawing conclusions from the fluctuations of a candle that is still forming.
Personal observation, not a recommendation. Risk 1%; always use a stop-loss.
#CAKE #DeFi #Futures
CAKE Futures is at 2.2431 USDT, down 2.005% over 24 hours. The latest 1H candle closed higher, rising from 2.2338 to 2.2455 after the previous candle closed at 2.2337, indicating that the short-term recovery is holding.
🟢 The bias favors upside if a 1H candle closes above 2.2479. The next levels to watch are 2.2540 and then 2.2754, based on the highs of closed candles. This view is invalidated if a 1H candle closes below 2.2243. Wait for the candle close to confirm; avoid drawing conclusions from the fluctuations of a candle that is still forming.
Personal observation, not a recommendation. Risk 1%; always use a stop-loss.
#CAKE #DeFi #Futures